U.S. Sanctions Four Iranian Cryptocurrency Exchanges
- Overview of Sanctions: On June 2, the U.S. Treasury sanctioned four Iranian cryptocurrency exchanges, accusing them of facilitating sanctions evasion and supporting the Iranian regime's financial infrastructure, highlighting the U.S. commitment to combat crypto-based sanctions evasion.
- Nobitex's Market Position: The Treasury identified Nobitex as Iran's largest digital asset platform, projecting it to process over 50% of Iran's digital asset income in 2025, thereby reinforcing its dominant position in the crypto market.
- Transaction Volume Data: The four sanctioned exchanges collectively control over 72% of Iran's crypto trading volume, with Ramzinex processing over $2.45 billion in crypto transactions since 2018, underscoring their significance in Iran's financial ecosystem.
- Market Reaction and Risks: The sanctions triggered a risk-off sentiment in the market, causing Bitcoin's price to drop by 4.7% at the time of the announcement, while the Fear & Greed Index fell to 23, indicating extreme fear in the market, which may impact investor confidence.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0244 | 0.0283 | 0.0316 | 0.0355 | 0.0388 | 0.0427 | 0.046 |
| Fibonacci | 0.0283 | 0.0311 | 0.0328 | 0.0355 | 0.0383 | 0.04 | 0.0427 |
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